Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 40 % of short-term debt in 2025; threshold 65 %.
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Figures corrected NBB
Corrected annual account filed for 2023.
Financials
Financial year 2025
Pidpa from Grobbendonk, company number BE0204908936, closed financial year 2025 with a result of € 31.3 million after tax. For that financial year Pidpa recorded revenue of € 402.7 million and equity of € 859.3 million. Compared with financial year 2024, the result moved from € -20.4 million to € 31.3 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 2, 2026.
€ 859.3 million
▲ 5% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 31.3 million
▲ still € 20.4 million loss in 2024
Profit after tax over the fiscal year.
€ 14.8 million
▲ 214% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 374.6 million.
People and assets in 2025
715.6
▲ 3.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 86.2 million
▲ 4% vs 2024
€ 120,500 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 3.2 million
▼ 11% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 471.8 million
▲ 14% vs 2024
€ 12 million is repaid this year. At this pace the long-term loan is gone in ≈ 32 years.
€ 49.5 million
▲ 4% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 71 days on average.
€ 10.7 million
▲ 7% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 287,349,534 | € 300,322,000 | € 315,056,973 | € 402,730,385 | ▲ 28% |
| Profit after taxes | € 12,744,160 | € 660,671 | € -20,391,716 | € 31,321,123 | ▲ € 51.7 million |
| Equity | € 809,099,862 | € 817,756,883 | € 817,210,893 | € 859,347,279 | ▲ 5% |
| Total debts | € 372,566,498 | € 477,203,920 | € 537,973,227 | € 616,092,623 | ▲ 15% |
| Cash | € 7,466,085 | € 5,350,364 | € 4,725,736 | € 14,823,521 | ▲ 214% |
| Land & buildings | € 44,702,420 | € 44,955,032 | € 49,559,908 | € 63,588,199 | ▲ 28% |
| Retained profit | € 335,481,302 | € 344,356,237 | € 333,412,079 | € 374,627,241 | ▲ 12% |
| Bank debt | € 265,957,422 | € 359,543,497 | € 415,457,425 | € 471,797,248 | ▲ 14% |
| Balance sheet total | € 1,289,632,636 | € 1,403,256,844 | € 1,468,732,529 | € 1,594,848,019 | ▲ 9% |
| Employees (FTE) | 715.4 | 704.2 | 712.5 | 715.6 | ▲ 3.1 |
Key figures of Pidpa, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Pidpa?
What happened at Pidpa in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 31.3 million. Source: NBB ↗
- Hans De Groof became a director. NBB
- Katrien Somers became a director. NBB
- Guy Echelpoels became a director. NBB
- Kris Verbeeck became a director. NBB
- Peter Hannes became a director. NBB
- Danny Van de Velde became a director. NBB
- Inge Bruynooghe became a director. NBB
In short
From € 12.7 million profit in 2022 to € 31.3 million profit in 2025.
Best year ever: 2025, with € 31.3 million profit.
Pays suppliers within 71 days on average.
Management
The stake of Water-Link comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
PidpaBehind Pidpa are Hans De Groof, Katrien Somers, Guy Echelpoels, Kris Gebruers, Kris Verbeeck and Peter Hannes. The shares are held by Water-Link (11.4%).
Directors
According to the 2025 annual accounts
since 2025
since 2025
since 2025
Kris Gebruers
Director
Kris Verbeeck
Director
Also active at: Intergemeentelijke Vereniging voor Bibliotheekwerking, Cultuur en Academie voor Deeltijds Kunstonderwijs, Vyvex, SUNFIN
since 2025
since 2025
Danny Van de Velde
Director
Also active at: Projectvereniging erfgoed Voorkempen, Autonoom Gemeentebedrijf Zoersel
since 2025
Inge Bruynooghe
Director
Also active at: MIKO, GHEYS BEHEER, Ergotrics, MARTHA1996, ERFGOED NOORDERKEMPEN
since 2025
David Geerts
Director
since 2025
since 2025
Nathalie Obbers
Director
since 2025
since 2025
Ingrid Meulders
Director
Also active at: IGEAN dienstverlening, FLUVIUS Antwerpen, IGEAN-milieu en veiligheid
since 2025
Mieke Van den Brande
Chairman of the board
Also active at: INTERGEMEENTELIJKE VERENIGING VOOR DUURZAAM AFVALBEHEER REGIO MECHELEN (IVAREM) (OPDRACHTHOUDENDE VERENIGING), AquaFlanders, SYNDUCTIS, Regionaal Landschap Rivierenland
since 2025
Shareholders
11.4%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Vierselse baan 5
2280 Grobbendonk
Desguinlei 246
2018 Antwerpen
Active since 1 January 1968
Miksebaan 295
2930 Brasschaat
Active since 1 January 1968
Vierselse baan 3
2280 Grobbendonk
Active since 1 January 1968
Kinschotsebaan 11
2360 Oud-Turnhout
Active since 1 January 1968
Smallerijt 12
2260 Westerlo
Active since 1 January 1968
Haanheuvel(HRT) 7
2200 Herentals
Active since 1 September 2002
Beukenbergsveld 6
2491 Balen
Active since 1 January 2022
Huybergsebaan 171
2910 Essen
Active since 1 January 2022
Haanheuvel(HRT) 3
2200 Herentals
Active since 1 January 2022
Loenhoutseweg 46
2320 Hoogstraten
Active since 1 January 2022
Middelbeeklaan 35
2950 Kapellen
Active since 1 January 2022
Steenweg op Hoogstraten 201
2330 Merksplas
Active since 1 January 2022
Diepestraat 90
2400 Mol
Active since 1 January 2022
Steenweg op Wortel Z/N box B
2330 Merksplas
Active since 1 January 2022
Turnhoutsebaan 171 box 11-12
2480 Dessel
Active since 1 January 2022
Industriepark 13D
2220 Heist-op-den-Berg
Active since 1 January 2022
Dombergstraat zn
2300 Turnhout
Active since 1 January 2022
Van Leriuslaan 229
2850 Boom
Active since 1 January 2022
Theo Coertjenslaan 14
2960 Brecht
Active since 1 January 2022
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
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Details
- Company number
- 0204.908.936
- VAT number
- BE 0204.908.936
- Registered office
- Vierselse baan 5, 2280 Grobbendonk
- Names & denominations
- Pidpa
- Enterprise type
- Rechtspersoon
- Legal form
- Opdrachthoudende vereniging (Vlaams Gewest)
- Legal situation
- Normale toestand
- Start date
- 1 January 1968
- Peppol
- Active · Active since 1 Jan 2001
- Contact
- pidpa.be
- Activities · NACE
Winning, behandeling en distributie van water
Winning, zuivering en distributie van water